Public Employees Retirement System of Ohio Has $188,000 Holdings in EchoStar Co. (NASDAQ:SATS)

Public Employees Retirement System of Ohio decreased its position in EchoStar Co. (NASDAQ:SATS) by 24.4% in the third quarter, HoldingsChannel reports. The firm owned 7,570 shares of the communications equipment provider’s stock after selling 2,438 shares during the period. Public Employees Retirement System of Ohio’s holdings in EchoStar were worth $188,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in shares of EchoStar by 54.7% in the third quarter. GAMMA Investing LLC now owns 2,231 shares of the communications equipment provider’s stock worth $55,000 after buying an additional 789 shares during the period. Nisa Investment Advisors LLC lifted its stake in EchoStar by 122.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,199 shares of the communications equipment provider’s stock worth $75,000 after acquiring an additional 2,315 shares in the last quarter. Gordian Capital Singapore Pte Ltd purchased a new position in EchoStar during the 2nd quarter valued at about $89,000. SG Americas Securities LLC acquired a new position in shares of EchoStar in the 3rd quarter valued at about $165,000. Finally, XTX Topco Ltd acquired a new position in shares of EchoStar in the 2nd quarter valued at about $183,000. 33.62% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Chairman Charles W. Ergen purchased 1,551,355 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were bought at an average price of $28.04 per share, with a total value of $43,499,994.20. Following the completion of the transaction, the chairman now directly owns 1,551,355 shares in the company, valued at $43,499,994.20. This trade represents a ? increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 55.90% of the company’s stock.

EchoStar Trading Up 0.6 %

Shares of NASDAQ:SATS opened at $22.75 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.61 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $6.18 billion, a PE ratio of -2.48 and a beta of 0.69. EchoStar Co. has a 1 year low of $11.83 and a 1 year high of $30.08. The firm has a fifty day moving average price of $24.33 and a 200 day moving average price of $21.71.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Morgan Stanley assumed coverage on shares of EchoStar in a research report on Monday, December 16th. They set an “equal weight” rating and a $25.00 price objective on the stock. Raymond James cut shares of EchoStar from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. TD Cowen reduced their price objective on EchoStar from $37.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Finally, StockNews.com raised EchoStar to a “sell” rating in a research report on Saturday, November 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, EchoStar currently has an average rating of “Hold” and a consensus price target of $20.50.

EchoStar Profile

EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in four segments: Pay-TV, Retail Wireless, 5G Network Deployment, Broadband and Satellite Services. The Pay-TV segment offers a direct broadcast and fixed satellite services; designs, develops, and distributes receiver system; and provides digital broadcast operations, including satellite uplinking/downlinking, transmission and, other services to third-party pay-TV providers; and multichannel, live-linear and on-demand streaming over-the-top internet-based domestic, international, Latino, and Freestream video programming services under the DISH and SLING brand names.